HP 10B Information

The newer HP 10BII is not quite identical.

Financial Keys

N, number of periods
I/YR, rate of interest per year
P/YR, number of periods per year
PMT, payment per period
PV, present value
FV, future value

Conventions

Payments which increase the balance are positive numbers.
Payments which decrease the balance are negative numbers.
Future values are withdrawals, usually entered as negative numbers.

Floating Decimal

Press DISP, followed by the decimal point.

Clearing Financial Data

Press CLEAR ALL.

Beginning Annuities

Press BEG/END.

Entering Financial Data

Display the value, then press the financial key.
To enter P/YR, enter the value, then press P/YR.

Computing Values

Simply press the financial key to be computed. (There is no "compute" key.)

Example:

Tom's account begins with $500, and earns 6% per year, compounded monthly. He deposits an additional $50 at the end of each month. What will the balance be at the end of one year?

The variables are:

N = 12

I = 6/12

PMT = 50 increasing

PV = 500

FV = ???

The keystrokes are:

CLEAR ALL
12 N
6 I/YR
12 P/YR
50 PMT
500 PV
FV

The answer is $1,147.62, rounded to the nearest cent. The negative sign indicates that the amount can be withdrawn from the account.